Is ERC404 on Notice? New Standard DN404 Promises Improved Efficiency
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- Anonymous developers have launched a new blockchain token standard, DN404.
- The new standard will reportedly solve the complications of the newly popular ERC404 standard.
- According to a team rep, DN404 handles all the logic, storage, and permissions but only exposes an ERC20 interface.
A team of anonymous developers has announced the launch of a new blockchain token standard, DN404. In a post on X (formerly Twitter), the team’s representative noted that the novel protocol aims to solve the critical issues arising from the newly popular “ERC404” tokens.
According to the anonymous team representative, ERC404 integrated functionalities from ERC20 and ERC721. However, it harbors complications from functions shared between the two standards, exposing the design to critical vulnerabilities. The team’s rep cited a situation where the ERC404 standard differentiates which token path to use (ERC20 or ERC721) based on the number, noting that protocols can’t know that.
ERC404 was introduced on February 2 by the Pandora team as a token standard that allows NFT fractions to be freely split and merged. It also allowed users to execute novel applications like NFT index…
The post Is ERC404 on Notice? New Standard DN404 Promises Improved Efficiency appeared first on Coin Edition.
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